The Manufacturers Association of Nigeria (MAN) have appealed to the federal government to intervene and make foreign exchange (forex) adequately available to save the sector.
Members of the Organised Private Sector (OPS) and other stakeholders in the nation’s economy also urged the Central Bank of Nigeria (CBN), to intervene on the challenges faced by manufacturers in accessing foreign exchange.
They also pleaded with government to patronise local software developers instead of importing solutions or software from China and other countries.
The OPS, comprising the Manufacturers Association of Nigeria (MAN), Lagos Chamber of Commerce, Industry (LCCI), and others, said government needs to improve access to foreign exchange for the importing of machinery and raw materials in order to boost local production and sustain the country’s fragile growth.
MAN president, Engr. Mansur Ahmed, said manufacturers are finding it difficult to source forex for the importation of machines and raw materials that are not available in the country.
“We request the intervention of the President to ensure the prioritisation of allocation for the purpose of importing raw materials and vital machines and equipment that are not available locally.”